Annual Tax Sale
In accordance with the Local Government Act, we hold an annual tax sale each year on the last Monday in September (September 26, 2022). Properties on Bowen Island with taxes that have not been paid in the last three years are included in the sale. If the delinquent taxes are paid before 10:00am on the tax sale day, they will be removed from the list of properties.
How the tax sale auction works
Before the tax sale date, a list of properties that may be included in the sale is published in the Bowen Island Undercurrent, twice within a 10-day period. The listing is subject to change, up to the time of the tax sale.
At the time of auction, property bidding begins with the 'upset price,' which is the total amount of:
- all outstanding taxes, penalties, and interest
- land title registration charges
- a 5% tax sale cost charge
- fees prescribed under the Land Title Act
The auction continues until the highest bid is received.
If you are a successful bidder
If you are the successful bidder (purchaser), you must secure your bid payment by cash or bank draft by noon on the tax sale day. If payment is not received, the property will be immediately offered again at public auction.
You will not have the right to receive title or possession of the property until one year following the date of the tax sale.
Redemption
During the one-year redemption period, the owner has the right to redeem the property from tax sale by remitting the full upset price, plus interest on the purchase price.
If the property is redeemed by the owner, you will receive the bid price plus interest at the prescribed rate. For income tax purposes, T5s will be issued on interest paid to the purchaser.
Property not redeemed
Property Not Redeemed
If the property is not redeemed during the 1-year period, the Collector registers the new owner at the Land Title Office, thus cancelling all previous charges, except for those matters set out in Section 276(1)(c) to (g) of the Land Title Act, and any lien of the Crown, an improvement district, or local district.
Are you a property owner facing a tax sale?
We make every attempt possible to contact owners of deliquent property tax accounts before advertising the property for sale. If you are a property owner facing a tax sale, please contact us as soon as possible at 604-947-4255 or bim@bimbc.ca.
Avoid Tax Sale of Your Property
- Pay your property taxes and claim your home owner grant (if eligible) by the due date.
- Pay your delinquent taxes by August 31 to avoid your property from being listed in the newspaper.
- Pay your delinquent taxes, including interest, by mid-September to stop your property from going to tax sale.
Pay Delinquent Taxes
Last Updated on 2022-04-29 at 3:36 PM